AshwathCR wrote:Hello Seniors,
I have been contacted by a job consultant asking me to provide my Limted Company / Umbrella Company details to them so that they can send across the 'Job Contract'.
I am on Tier-1 now and just finished my one year 'fixed term contract' with an MNC and I was on their direct payroll. Unfortunately, the contract has ended and I am looking for a new role now.
So, I have no idea about this limited/umbrella company. Could any one please guide me on how to go about it?
Your help is greatly appreciated.
Kind Regards,
AshwathCR
For a limited company, you will have to go the Companies House and register a company. I would advise you find an accountant who will help you out with all formalities. And don't try doing this on your own because the accountant's statement is needed as proof for Tier 1 renewal.
For an umbrella company you will need to find an umbrella company (these guys are often aligned to recruitment agencies), so ask this agency if they have one.
Word of advice though if you go for the umbrella route. Please ensure that you are able to maintain the income level needed for your visa renewal. Umbrella companies give you a separate amount (for example £100 a week) as expenses, so you don't have to pay tax on them, but on the flip side it is not included as your salary. So while you get more money in your pocket, it may push you into a lower earning band and therefore, affect the points you can score for Tier 1.
One last option, is to ask the Job Consultant if you can work as an individual, i.e. you will be on his company's payroll. But ensure they don't charge you anything for this service.
Please do not send me any Private Messages as I do not check these.
